OPEC+ meeting rescheduled

US, WASHINGTON (NEWS OBSERVATORY) — The OPEC + video conference was postponed from April 6 to April 9, spokesman for the Russian President Dmitry Peskov told reporters.

The price of a barrel of oil on Monday morning fell by 10% due to postponed OPEC + negotiations after a statement by the US president about the reluctance to join Russia and Saudi Arabia to reduce oil production overall.

By 10:37 UTC, the decline in prices slowed down to 1-1.5%. European benchmark Brent in the morning auction is trading at $ 33.8 per barrel, the American standard WTI – $ 27.9 per barrel.

On April 3, Russia advocated a joint agreement to reduce production by OPEC + and the United States. But President Donald Trump responded with shocking statements, starting with the fact that OPEC is an illegal organization and ending with threats to impose barrage duties on oil imported into the country.

After the speech of Trump, prices fell due to fears of a breakdown in the deal to reduce production. But on the morning of April 6, it became known that the OPEC + video conference was postponed from April 6 to April 9, which slowed down the fall in prices.